SEBI Order in the Case of Creation of Artificial Volume

SEBI has been investigating  a case of aiding and abetting in creation of artificial stock volumes  which impacted the price of the scrips of Genus Commutrade Limited. It was revealed in SEBI’s investigations, that M/s Parklight Investments Private Limited (‘PIPL’), a stock broker and member BSE, was found to have aided and abetted its clients in creation of artificial volume and impacting the price in the scrip of GCL and have not exercised due care and diligence while dealing on behalf of its clients.

Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI, has vide Order dated December 31, 2012 suspended the certificate of registration of M/s. Parklight Investments Private Limited, a trading member of BSE for a period of one week.

The Order shall come into force immediately on expiry of twenty one days from the date of the Order.

The full text of the Order is available for download from the link in this post.

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eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

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